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Submission Preparation Checklist

As part of the submission process, authors are required to check off their submission's compliance with all of the following items, and submissions may be returned to authors that do not adhere to these guidelines.
  • The submission has not been previously published, nor is it before another journal for consideration (or an explanation has been provided in Comments to the Editor).
  • The submission file is in OpenOffice, Microsoft Word, RTF, or WordPerfect document file format.
  • Where available, URLs for the references have been provided.
  • The text is single-spaced; uses a 12-point font; employs italics, rather than underlining (except with URL addresses); and all illustrations, figures, and tables are placed within the text at the appropriate points, rather than at the end.
  • The text adheres to the stylistic and bibliographic requirements outlined in the Author Guidelines, which is found in About the Journal.
  • If submitting to a peer-reviewed section of the journal, the instructions in Ensuring a Blind Review have been followed.

Author Guidelines




  1. Use American English.
  2.  Be concise.
  3. Active voice is preferable to passive voice because it allows the authors to illustrate their research activities from their own perspective. In contrast, passive voice often leads to vagueness in determining the actors of the activities. Hence, the author(s) can use the “I” or “we” in their sentences. However, passive voice is still permitted or even appropriate in certain conditions, such as when the actor of the activity is unknown or irrelevant, or the authors wish to emphasize the objects of the activities (such as in the method section). When using passive voice, please ensure that the readers will understand who performs the activities.
  4. A quick survey of top economics and business journals indicates that many papers were fully written in the simple present tense (from the abstract, introduction, literature review and hypothesis development, method, results and analysis, and conclusions) while others still use different tenses for different sections. Hence, the author is allowed to prepare their manuscript fully in the simple present tense. When the authors decide to use different tenses for different sections of their manuscript, please refer to the following guideline:
    1. Abstract: use the simple past tense
    2. Introduction

      When citing previous studies, please use the simple present tense if the authors consider the cited studies still true and relevant (even when the cited studies were conducted some time ago) or use present perfect tense when the authors wish to emphasize ‘recency’ or ‘currency.’

    3. Literature Review/ Hypothesis Development

      Similar to the introduction part.

    4. Research Methods

      Please use the simple past tense. Passive voice is often used.

    5. Results

      Simple past tense for results obtained.

    6. Discussion

      Please use the simple past tense to summarize the findings and the simple present tense to explain and interpret the significance of the results.

    7. Conclusions

      Please use the simple past tense to summarize the results and the limitations of the study and the simple present tense to offer suggestions for future research.

  5. In all sections of the manuscript, if the authors use figures or diagrams to explain what they did, refer to the figure or diagram using the present tense (e.g., Table 1 above shows that .....). Besides, please use simple past tense to narrate the data of previous conditions or activities (e.g., In 2010, the number of internet connections in Indonesia reached...).
  6. Use the plural form for nouns representing humans (e.g., CEOs, salespersons, managers) to avoid employing gender-specific pronouns (he or she) when using the singular form for these nouns. Using the singular form for such nouns is permitted, even appropriate, when the author aims to refer to specific objects (e.g., The CEO of PT X is...).
  7. The authors are encouraged to submit their manuscripts in English.


  • The manuscript should be prepared in word-processing software (Microsoft Word, Open Office). The authors should not send the file into non-modifiable formats (e.g., PDF)
  • The manuscript should be typed using 12-point Times New Roman in A4 papers with 3 cm right and top/ bottom margins and a 3.5 centimeter left margin. Your manuscript should fall between 15-20 pages in length (including references).
  • The front page should contain the manuscript's title, authors' names, the authors' affiliated institutions, and the authors' email addresses.
    • The title of the manuscript should be typed in 14-point font and capitalized letters and should not exceed twelve words in length.
    • Name should be typed in 14-point and bold.
    • Affiliation, city, country and email address should be typed in 12-point. 
  • The abstract should be prepared in English and Indonesian, between 150-200 words in length, and in single paragraphs. The abstract is located on the first page of the content pages. Your abstract should concisely inform the study's objectives, research issues/ questions, methods used, results, and conclusions and contributions. There should be 3-5 keywords.
  • Content pages should be typed in 12-point and 1.15 space.
  • The authors should not identify themselves (directly and indirectly) with the manuscript. Single authors should not use the “we” pronoun.
  • All pages should prenumbered.
  • Numbers from one to ten, except for those in tables or lists and used as the units or quantities (distance, weight, and size), should be spelled alphabetically. For example, three days, 3 km, 30 years. Other numbers should be presented numerically.
  • Percent in the text should be typed as percent while in the table and figure typed as %.
  • The manuscript should rely on recent primary references. The proportion of recent primary references (not more than ten years old) should be at least 80% of the total references.
  • The manuscript should at least contain:
    • Introduction: The introduction should explain the rationality of the research to enable readers to justify the paper. Specifically, the introduction should discuss the research background, research gap, and the research's objectives and contributions.
    • Literature review: This section contains reviews of journal articles, books, and other sources related to the topic. The section should highlight the conformity of research problems with the research context. Each main concept should also be explained sufficiently. If the manuscript uses hypotheses, each hypothesis should be supported with adequate arguments and prior studies.
    • Research method: This section explicitly explains how research activities are organized. Hence, this section should offer readers complete and clear descriptions of the research materials, tools, and phases (including research design, data and data source, the operational definitions of variables/ research focus, and analysis technique) to answer the research questions and to enhance the replicability of the study.
    • Results: This section directly elaborates and narrates the observed results without offering interpretation or evaluation.
    • Discussion of the results: Discussion should interpret the results (whether the results confirm or disconfirm the expectations). The discussion should refer to research objectives and literature.
    • Conclusions: This section concludes the results and the discussions of the results. Conclusions should adhere to the research objectives. This section should also elaborate further on the research implications, limitations, and suggestions for future studies.
  • The manuscript should be free from technical errors, such as typographical errors, referencing errors, and incomplete referencing.



The authors should follow the following general guidelines.

  1. Each table and figure (graphic) are included in the text.
  2. References to each table and figure should be included in the text.
  3. Tables and figures should be interpretable independently from the text.e
  4. Each table and figure should be prenumbered. The titles of tables or figures should conform to each table, figure, and reference (if relevant).
  5. Tables, titles of tables, text within tables, figures, and titles of figures should be typed in 10-point Times New Roman, single space.
  6. Explanations on tables or figures should be inserted below the tables or at the right-hand side of the figures in 10-point font.

Table -example

The authors can find the example of tables at the "Article Template" at the upper right panel.

Figure – example

The authors can find the example of figures at the "Article Template" at the upper right panel 


Formulas should be typed with Arabic serial number.

TAC = NIit – Cfit .................................................................................................................................................  1

where :

NIit                       = net income of firm i in period t

CFit                      =  cash flows from operations of firm i in period t 


Hypotheses should be supported by sufficient theoretical arguments and prior studies. Hypotheses are typed in 12-point font after the arguments supporting the hypotheses. The following is an example of the hypothesis format.

H1:     More highly leveraged firms exhibit lower operating leverage.


The referencing style follows the 6th edition of the American Psychological Association (APA). The authors should use Mendeley software for citation and referencing (the authors should not cite and refer manually).


  1. A citation source with a single author: (Jones 1998).
  2. A citation source with two authors: (Jones dan Freeman 1980).
  3. A citation source with more than two authors: (Jones et al., 1997).
  4. Two citation sources with different authors: (Jones 1987; Freeman 1988).
  5. Two citation sources with the same authors: (Jones 1988; 1999). If the publication years are the same: (Jones, 1999a; 1999b).
  6. Citation sources from institutions should mention the acronyms of the institutions, e.g. (IAI 2012).


  1. References should be prepared in alphabetical order based on the first authors' family names or the acronym of the cited authors.
  2. References should consist of the authors' name, publication years, the title of the articles or books, the titles of the journals’ publishers, and page numbers.
  3. Journal names should not be abbreviated.
  4. The authors should not cite final project repositories, student academic journals, and blogs.

References (Example)

American Accounting Association, Committee on Concepts and Standards for External Financial Reports. 1977. Statement on Accounting Theory and Theory Acceptance. Sarasota, FL: AAA.

Becker, H., and D. Fritsche. 1987. Business ethics: A cross-cultural comparison of managers’ attitudes. Journal of Business Ethics 6: 289-295.

Bowman, R. 1980a. The importance of market-value measurement of debt in assessing leverage. Journal of Accounting Research 18 (Spring): 617-630.

_____, 1980b. The debt equivalence of leases: An empirical investigation. The Accounting Review 55 (April): 237-253.

Cohen, C. 1991. Chief of Indians-woman in accountancy. Australian Accountant (December): 20-30.

Harry, J., dan N. S. Goldner. 1972. The null relationship between teaching and research. Sociology of Education 45 (1): 47-60.

Jensen, M. C., dan C. W. Smith. 1985. Stockholder, manager, and creditor interests: Applications of agency theory. Dalam Recent Advances in Corporate Finance. Diedit oleh E. Altman, dan M. Subramanyam. Homewood, IL: Richard D.

Irwin, G., G. Munn, F. L Garcia, dan C. J. Woelfel, eds. 1991. Encyclopedia of banking and finance. Edisi ke Sembilan, Chicago, IL: St. James Press.

Ohlson, J. A. 1991. Earnings, book values, and dividends in security evaluation. Working paper. Columbia University.


Footnotes should not be used for documentation and only for highlighting information that will otherwise interrupt the continuity of the manuscript

if included in the text. Footnotes should be prenumbered in Arabic numbers that are typed in superscript.

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